GiveCampus, a leading fundraising platform for not-for-profit educational institutions, has raised $50 million in minority equity funding led by Silversmith Capital Partners, a Boston-based growth equity firm.
Several individual investors also participated in the funding, including Y Combinator CEO Michael Seibel, Stripe CEO Claire Hughes Johnson, and HubSpot team founder Mike Volpe.
The funding marks the first time the startup has raised capital since raising less than $1 million from family, friends, angel investors and Y Combinator in 2015.
GiveCampus was founded in 2014 to help improve the quality, affordability and accessibility of education equipping school fundraisers with the technology needed to engage more donors and raise more money. The platform supports the most important priorities of educational fundraisers, from providing donors with a seamless online giving experience to identifying and engaging alumni with significant giving capacity to scaling the impact of volunteer programs. Since its launch in 2015, GiveCampus has facilitated more than $2 billion in charitable giving to more than 1,000 colleges, universities and K12 schools.
“We founded GiveCampus because we believe it should be easy to give a gift to your school and that school fundraising deserves cutting-edge technology designed specifically for them. As we move into this next chapter, we will continue to obsess over the needs and priorities of our partner schools as we integrate additional capabilities, data and insights into our platform to drive even greater impact,” GiveCampus co-founder and CEO Kestrel Linder said in a statement.
Kestrel Linder said in a blog post that the fresh capital will be used to build cutting-edge technology specifically and exclusively for educational fundraising, continue to improve online giving solutions and expand the platform’s capabilities for critical workflows to come. before and after a donor makes a gift: identification, engagement, solicitation and management.
Jim Quagliaroli, Silversmith Managing Partner, said,
“Fundraising is a key component of the school budget. Without effective fundraising, schools face the choice between budget cuts or tuition and fees increases, both of which hurt students, especially students from less advantaged backgrounds. GiveCampus is a game-changer, helping schools of all shapes and sizes advance their missions through significantly improved fundraising results. It’s rare to find software companies that provide so much real, measurable value to users and society at large. We are excited to work with Kestrel, Mike and the entire GiveCampus team as they continue to play a critical role in ensuring that high-quality education is accessible and affordable to all.”
As part of the investment, Quagliaroli joined GiveCampus’ board of directors along with the company’s co-founders.
GiveCampus said that since its inception, the company has achieved major milestones including surpassing $20 million in revenue, six consecutive years of profitability and positive cash flow, and donating $1 million in free fundraising support through GiveCampus’ social mobility initiative.
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